With FTX 2.0 getting a backlash, investors are shifting their attention to Bitcoin Spark as a potential means to recover losses incurred from the FTX demise.
FTX 2.0
The collapsed cryptocurrency exchange FTX has been working on a restructuring plan that provides for a specific class of debtors to pool assets to create a new offshore exchange, FTX.2.0. Despite fervent promotion from its proponents, this initiative has been met with considerable skepticism by the crypto community.
Notably, Jesse Powell, co-founder of the renowned Kraken exchange, has expressed significant reservations, suggesting that the start of FTX 2.0 would be worse than launching a new exchange from scratch as it would have no team, no tech, no licenses, no banking, and a tarnished brand. Additionally, the compensation rates for liquidators have come under scrutiny, leaving victims of the original FTX collapse apprehensive about the potential outcome. In a landscape already scarred by past exchange failures like Cryptopia and Mt. Gox, FTX 2.0’s viability remains highly questionable.
Bitcoin Spark
Bitcoin Spark is a promising crypto project inspired by the foundational principles of Satoshi Nakamoto’s vision for cryptocurrency. While it shares a limited supply of 21 million coins characteristic with Bitcoin (BTC), Bitcoin Spark distinguishes itself through a range of innovative features. One of its attributes is rapid transaction processing and low gas fees, made possible by a combination of expanded individual block transaction capacity, shorter block times, and a robust network of nodes.
Moreover, Bitcoin Spark offers a versatile platform for the development of smart contracts and decentralized applications (Dapps), featuring a multi-layered architecture with a seamlessly integrated smart contract layer that supports various programming languages.
What sets Bitcoin Spark apart is its proprietary consensus mechanism, the Proof-of-Process (PoP), which rewards validators nonlinearly for block validation and processing power contribution. With a wide network of nodes and PoP’s nonlinear rewards system, Bitcoin Spark aims to attract a large number of validators.
The network’s competent development team will even provide an application that allows Windows, iOS, Android, Mac OS, and Linux users to participate in network validation. Validators will be able to lease their processing power through Bitcoin Spark to organizations or individuals seeking remote computational resources with payments in BTCS.
Furthermore, Bitcoin Spark plans to feature unobtrusive advertising spaces within its application and website, which will also be paid for using BTCS. This approach provides a novel way for advertisers to reach their target audiences, merging cryptocurrency with the expanding marketing industry.
The Bitcoin Spark team has made notable steps to ensure the sustainability of the network, including conducting multiple smart contract audits.
BTCS is currently selling at $2.75 with a complimentary 8% bonus in Phase 6 of Bitcoin Spark’s Initial Coin Offering (ICO). BTCS is set to launch at $10, indicating a 393% profit for investors. Considering Bitcoin Spark’s innovative technology, low supply, low market capitalization, and real-world applicability, BTCS could surge significantly after launch.
While the best crypto to buy is based on individual investment goals and risk tolerance, Bitcoin Spark (BTCS) makes a very compelling choice. However, it is essential to conduct your own research before investing.
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